UPDATE: **SOLD** Was $10,500.

I found this ad interesting because the seller says he got an appraisal of $12,500 from Southern Motors (a car seller?).  It appears to be restored, however the pics make some of the parts of the body look a little rough (it could be the pics). The drive train and transmission sound stock to me.

“1948 WILLYS Jeep, 406 CI Motor, 4 BBL, 194 Camelback Early Corvette Heads, 3 Speed Trans, 538 Axle, Completely restored inside and out. Engine and Transmission rebuilt less than 500 miles on rebuild. Lots of power. New LTX Ms Michlin 31 X 10.5 R 15 tires.”